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Dec 2, 2012
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avoiding it -- if they do nothing, everyone's taxes go up and automatic spending cuts will take effect. no imminent deal is in sight. >> if they are going to force higher rates on virtually all americans, because they're unwilling to let tax rates go up on 2% of americans, then that's a choice we're going to have to make. >> i would say we're nowhere. period. we're nowhere. we have put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. they have actually asked for more revenue than they have been asking for the whole entire time. >> in other words not quite a good place to be, but both sides agree that the government needs to raise more money. how much and how they do it are two of the major sticking points. >>> and protests and a constitutional crisis, what is next for egypt. we'll dig deeper into the struggle for power between conservative islamists and liberal secularists. and later, brad pitt talks about his future with angelina jolie. >>> and a dog reunited with his owner after s
avoiding it -- if they do nothing, everyone's taxes go up and automatic spending cuts will take effect. no imminent deal is in sight. >> if they are going to force higher rates on virtually all americans, because they're unwilling to let tax rates go up on 2% of americans, then that's a choice we're going to have to make. >> i would say we're nowhere. period. we're nowhere. we have put a serious offer on the table by putting revenues up there to try to get this question resolved....
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Dec 6, 2012
12/12
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theories why the stock has been falling, people selling ahead of the fiscal cliff, fearing capital gains, tax hike, fear that china mobile will take longer to start selling the iphone given it's already picked up nokia's latest lumia. reports apple is asking for fewer iphone 5 parts from suppliers and people wrapping that in with fears apple is losing phone market share to android and dealing with compressed margins from ipad mini and other products. as a reporter covering the company i wonder if some of us have crossed over to irrational despondency on apple. tim cook set a high bar in revenue for the quarter, he just had a big opportunity to drop a hint in interviews with nbc's brian williams and bloomberg "business week." so far it seems he didn't do that. iphone 5 supplies coming into balance available to ship in two to four business days online. ipad mini demand outstripped supply which could mean margins are better than apple projected. there are open questions on the pro and con side of apple but the most important ones, these questions can apple ramp iphone supply ahead of the quarter
theories why the stock has been falling, people selling ahead of the fiscal cliff, fearing capital gains, tax hike, fear that china mobile will take longer to start selling the iphone given it's already picked up nokia's latest lumia. reports apple is asking for fewer iphone 5 parts from suppliers and people wrapping that in with fears apple is losing phone market share to android and dealing with compressed margins from ipad mini and other products. as a reporter covering the company i wonder...
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Nov 30, 2012
11/12
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should they raise the capital gains tax, and taxes on dividends, as well? or some combination of all of the above? right now they don't even seem to agree on the amount of money to be raised in revenue. let's listen to what senate majority leader harry reid had to say to explain the democrats' position on this. >> protect middle-class families from the fiscal cliff that they're facing by freezing the tax rates for the first $250,000 all americans' income and letting the rates go up to the same level they were during the clinton administration. republicans know where we stand. we've said it. we've said it. we've said it so many times, the president's said the same thing. >> and so republicans do know where democrats stand. this is certainly this idea of raising taxes on the wealthy is something that the president ran on in the last campaign. but republicans feel like there's been way too much focus on this whole tax side of things, and not nearly enough focus on spending cuts. which are also needed. let's listen to what house speaker john boehner had to say
should they raise the capital gains tax, and taxes on dividends, as well? or some combination of all of the above? right now they don't even seem to agree on the amount of money to be raised in revenue. let's listen to what senate majority leader harry reid had to say to explain the democrats' position on this. >> protect middle-class families from the fiscal cliff that they're facing by freezing the tax rates for the first $250,000 all americans' income and letting the rates go up to the...
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Dec 5, 2012
12/12
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cuts will expire so the tax cuts -- the taxes are going to go up on everybody, right? the fiscal cliff, you go over the cliff, the taxes go up for every single person. is the plan then if you do a deal for taxes on the middle class, then de facto the taxes go up on the wealthy and sort of have a win/win for the democrats? is that the scenario we're looking at now? >> well, the scenario is that we still have time to put a deal together. the president has a detailed proposal on the table. republicans need to decide where they want to move. john boehner needs to decide how he will get his caucus together. they're becoming increasingly isolated in their position. hopefully we can have a deal which protects the middle class. there is a piece of legislation sitting in the house today that would prevent taxes from going up on 98% of the american people. 97% of small businesses. they should go ahead and move that. and then we can have a broader discussion of how we achieve larger deficit reduction and avoid the fiscal cliff. but there's plenty of room and plenty of time for co
cuts will expire so the tax cuts -- the taxes are going to go up on everybody, right? the fiscal cliff, you go over the cliff, the taxes go up for every single person. is the plan then if you do a deal for taxes on the middle class, then de facto the taxes go up on the wealthy and sort of have a win/win for the democrats? is that the scenario we're looking at now? >> well, the scenario is that we still have time to put a deal together. the president has a detailed proposal on the table....
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Nov 29, 2012
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so if we raise everyone's taxes, it'll be a $2 trillion tax increase. well, if we raise it only on the rich which the president wants to do and the democrats, that's 40% of the nation's income. so it'll be a $900 billion tax increase. it isn't about who the tax increase is on. that's simply envy and class warfare. it's about how much money you're going to take out of the private sector. $900 billion taken from the private sector is an enormous drain and will hurt economic growth. doesn't matter whether it's rich people, middle class or poor people. it's money taken out of the productive sector, the private sector, and given to the nonproductive sector, the government. >> finally, we started the conversation talking about the pledge. when senator graham does, though, indicate his commitment is softening, do you have words with him later on? does he get scolded behind the scenes? >> i don't do any scolding. it's not my job to tell other senators or congressman how to vote or what to think. i try to communicate what i think is the message of our party. the
so if we raise everyone's taxes, it'll be a $2 trillion tax increase. well, if we raise it only on the rich which the president wants to do and the democrats, that's 40% of the nation's income. so it'll be a $900 billion tax increase. it isn't about who the tax increase is on. that's simply envy and class warfare. it's about how much money you're going to take out of the private sector. $900 billion taken from the private sector is an enormous drain and will hurt economic growth. doesn't matter...
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Dec 6, 2012
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if we're going off the fiscal cliff, we know capital gains tax rates are going higher, right? right? that's obvious. do you really think the republicans have the power to keep those capital gains rates down? apple's become a referendum on the president's power and polling. right now he has the upper hand, then he can really roll them and intends to do so. it's reasonable to take some profits so you can pay the tax man less now rather than more later. it's a wimpy thing, it's logical, makes perfect economic sense. especially if you hold apple. so the stock gets hammered. it makes sense to sell it. but let's be less emotional and even clinical about this one. first, divide apple's share price by ten, now you have a stock that got crushed down to $54. when you do that arithmetic, it isn't all that scary, is it? where does the pessimism fit in? when we have to endure the pin the tail on the selloff game, what excuses for the selloff, myriad alibis i hear from today's action. apple's losing share to google, it doesn't have the right phones in europe, nokia's making a comeback, the
if we're going off the fiscal cliff, we know capital gains tax rates are going higher, right? right? that's obvious. do you really think the republicans have the power to keep those capital gains rates down? apple's become a referendum on the president's power and polling. right now he has the upper hand, then he can really roll them and intends to do so. it's reasonable to take some profits so you can pay the tax man less now rather than more later. it's a wimpy thing, it's logical, makes...
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Dec 7, 2012
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rates. >> going over the fiscal cliff also means the 2% payroll tax holiday would expire. it would mean cuts in unemployment benefits for millions of families. lawmakers have until december 31st to agree on a deal. >>> as we reported earlier this evening, the president took a break to join the first family for the lighting of the national christmas tree on the ellipse. as fox 5's bob barnard tells us, others there say that icy chill in the air needs to thaw if we're ever going to avoid that fiscal cliff. >> reporter: yes, the president and malia obama with sasha and first lady michelle leading a chorus of santa claus is coming to town. >> one. >> reporter: the ceremony of music and lights as the national christmas tree comes to life. >> i'm so excited for christmas. i can feel christmas already now. >> reporter: but the holiday cheer, the spectacle of this illuminating tradition tempered by thoughts of the looming fiscal cliff. >> he's making us wait a little bit. >> reporter: this is 6-month- old evan nicolsky. his father neil works for the department of agriculture. >> w
rates. >> going over the fiscal cliff also means the 2% payroll tax holiday would expire. it would mean cuts in unemployment benefits for millions of families. lawmakers have until december 31st to agree on a deal. >>> as we reported earlier this evening, the president took a break to join the first family for the lighting of the national christmas tree on the ellipse. as fox 5's bob barnard tells us, others there say that icy chill in the air needs to thaw if we're ever going to...
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Nov 30, 2012
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on real after-tax tax basis, it is a much different story. >> yeah. you get a cap tamm gains and -- should you sell the share? capital gains taxes going up? dividend stocks aren't going to be worth as much. how do you -- is it already reflected? >> well, from a capital gains standpoint yes, you should take your gains. from a dividend perspective -- the fed is already screwing savers by having rates at zero. the government will screw savers more by taking more out of your dividends. unfortunately savers are going to have no choice but to own dividend paying stocks. >> joe is not paying attention. buy lottery tickets and open a moe's franchise. that's what we should do. >> someone tweeted i have moe's tortilla chips. >> up next, up next -- thanks, peter. gop criticizing the president's proposals for taxes and spending increases. dems telling the republicans to bring their ideas to the table. can the two sides get together and get a deal done? we ask ed rendell and judd gregg about that and much more "squawk box" is coming right back after a break. for m
on real after-tax tax basis, it is a much different story. >> yeah. you get a cap tamm gains and -- should you sell the share? capital gains taxes going up? dividend stocks aren't going to be worth as much. how do you -- is it already reflected? >> well, from a capital gains standpoint yes, you should take your gains. from a dividend perspective -- the fed is already screwing savers by having rates at zero. the government will screw savers more by taking more out of your dividends....
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back to bush years tax cuts. you can get another piece out of that capping deductions, somebody has to come forward and say we have to reduce medicare spending all thee parties are net negative on raising income taxes for everybody. all thee parties net negative on raising the requirement atireme. rediscussi reducing net spending, the democrats are a little better on that. >> you thought it was amazing that 30% of the public have not heard about the fiscal cliff. that didn't raise very high on major issues that are out there. >> the other thing i wanted to ask you about is the apple situation, after that performance yesterday, you talked last week about how you talked about the people that were selling this week. do you think that's really what's happening in this situation? >> i do. whether it's that side which is kind of the negative side, you break the piggy bank, you want to beat capital gameins, you wa to beat the tax man. i think both those sides of the equation may have a lot more horsepower than people th
back to bush years tax cuts. you can get another piece out of that capping deductions, somebody has to come forward and say we have to reduce medicare spending all thee parties are net negative on raising income taxes for everybody. all thee parties net negative on raising the requirement atireme. rediscussi reducing net spending, the democrats are a little better on that. >> you thought it was amazing that 30% of the public have not heard about the fiscal cliff. that didn't raise very...
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is it because of capital gains taxes? is it because of slowdowns in smartphones? is it alien invasion? what is it? >> it is mayans -- i don't know. i'll tell you that i think the way to look at this is, everyone's getting very, very dramatic because it's a big price stock. it is $700 down to $500 or $550. it looks like it is this huge thing. in the meantime there have been ten of these 30% corrections in apple's run-up in the last five or six years. it is a very regularly occurring thing. it is just that it started from a very high base. the thing to keep in mind, there is going to be selling pressure on this stock just for the fact that he ever one's got big gains in it and there is uncertainty about what the tax rate will be on capital gains next year. nobody should be surprised by this. what's very encouraging, in the wake of this stock coming down $150 a share and being such a huge weighting in the nasdaq and the s&p, the markets have essentially digested this move. other stocks have gone up. yesterday is a great example. i think if you're bullish on this mark
is it because of capital gains taxes? is it because of slowdowns in smartphones? is it alien invasion? what is it? >> it is mayans -- i don't know. i'll tell you that i think the way to look at this is, everyone's getting very, very dramatic because it's a big price stock. it is $700 down to $500 or $550. it looks like it is this huge thing. in the meantime there have been ten of these 30% corrections in apple's run-up in the last five or six years. it is a very regularly occurring thing....
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Dec 4, 2012
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cramer loves higher taxes. i'm not into higher taxes. it's obvious that the president is going to stick by this position because he thpgs inks was elected for it and moynihan, i found his comments chilling. pnc thinks that they are saying they don't think we'll go over the cliff. as between pnc and bank of america, i think bank of america has a better handle on things. >> the cliff continuing to affect companies dividend strategies. we have coach, dsw this morning, and now american eagle moving dividend payable dates to this year after oracle announced it will accelerate its fiscal '13 dividend payments into this month. the payout for larry ellison will exceed 1$198 million. when you consider potential tax rates difference, that's serious money. >> real money there where you go up as high as 41%, yeah. from where we are right now, absolutely. the most tax efficient way to deal with dividends is not to have them at all. and actually run real growth companies that don't return anything to shareholders and power everything back into your bu
cramer loves higher taxes. i'm not into higher taxes. it's obvious that the president is going to stick by this position because he thpgs inks was elected for it and moynihan, i found his comments chilling. pnc thinks that they are saying they don't think we'll go over the cliff. as between pnc and bank of america, i think bank of america has a better handle on things. >> the cliff continuing to affect companies dividend strategies. we have coach, dsw this morning, and now american eagle...
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and you add that to the payroll tax increase and you have got a big tax increase coming count pike in a weak economy. martha: it will hurt across the board from the top to the bottom. everybody's financial picture will look different in the new year. bill: prince william's pregnant wife has been released from the hospital. a smiling duchess of cambridge heading home. she had been in the hospital for severe morning sickness. they moved to kensington palace where she has been ordered to take it easy. she looks great. martha: poor thing. you are leaving the hospital. you have got to do your hair and smile for the cameras when you feel lousy. bill: what a media frenzy this has been already. it's just the beginning. england has that to watch all over the kingdom. martha: we are just getting started. lots going on. a new green energy project funded by you the taxpayer. did you know you are one of the prime investors in a new electric car battery? bill: there are new concerns about a north korean rocket launch any day. a top u.s. commander labeling it very dangerous. what is the u.s. doing i
and you add that to the payroll tax increase and you have got a big tax increase coming count pike in a weak economy. martha: it will hurt across the board from the top to the bottom. everybody's financial picture will look different in the new year. bill: prince william's pregnant wife has been released from the hospital. a smiling duchess of cambridge heading home. she had been in the hospital for severe morning sickness. they moved to kensington palace where she has been ordered to take it...
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Dec 4, 2012
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from this complicated tax or these high taxes. it works. >> becky, if it was your commission, simpson/bowles -- >> 11 of the 18 members. >> and we got to handle the fiscal cliff but knowing it goes to 28%, wouldn't you be using this opportunity right now to try and bridge a way to get eventually to simpson/bowles? >> the president was behind simpson/bowles from the beginning. >> because of the 28% and the entitlement cuts. if you were on this commission, you would say the fiscal cliff is much more important, let's figure out a way to handle it but with the end in sight of simpson/bowles. we all know we need to get there. instead of this obsession with the top 2% and 39.6, wouldn't you be spending is your leadership capital trying to get to a simpson/bowles. >> that's the most loaded question you could have possibly asked. >> am i wrong? >> no, i agree with that, i agree with simpson/bowles. >> no one's listening at the white house so i can say whatever i want. >> when we've asked republican leaders they've not embraced simpson/bow
from this complicated tax or these high taxes. it works. >> becky, if it was your commission, simpson/bowles -- >> 11 of the 18 members. >> and we got to handle the fiscal cliff but knowing it goes to 28%, wouldn't you be using this opportunity right now to try and bridge a way to get eventually to simpson/bowles? >> the president was behind simpson/bowles from the beginning. >> because of the 28% and the entitlement cuts. if you were on this commission, you would...
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Dec 5, 2012
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minimum tax. that's the only part of this whole mess that actually affects your 2012 taxes. it is a big problem, and it would hit like 30 million families who don't know it's coming, but most of this increase affects your 2013 taxes. so you wouldn't actually -- you would feel it in withholding, feel it in your paycheck, but they have time to fix this before you file your 2013 taxes to give you back some of that money. >> time to fix this, laurie montgomery, thank you. i want to start there with dana bash here in a moment. because the fiscal cliff debate is starting to sound like, you know, a high stakes game of chicken. there is all kinds of tough talk. no action. right now democrats and republicans are refusing to compromise on this key sticking point, how to get more money from wealthy people. president obama, you know the deal, he wants to raise tax rates for the wealthy. house speaker john boehner wants to close tax loopholes, limit deductions for the wealthy. let's stay on the hill here, let'
minimum tax. that's the only part of this whole mess that actually affects your 2012 taxes. it is a big problem, and it would hit like 30 million families who don't know it's coming, but most of this increase affects your 2013 taxes. so you wouldn't actually -- you would feel it in withholding, feel it in your paycheck, but they have time to fix this before you file your 2013 taxes to give you back some of that money. >> time to fix this, laurie montgomery, thank you. i want to start...
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Dec 7, 2012
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be a delayed start to 2013 tax season. in programming its systems, the irs considered the congress would patch the amt. without another patch, the amt could hit as many as 33 million people for the 2012 tax year and it will take them some time to reset all of those forms. >>> and squawk is in session thorn with congressman peter roskam, member of the ways and means committee. thanks for joining us. >> good to be here. >> one of your quotes is that house republicans are prepared to get the yes, but not prepared to get to foolish. and 1.6 you would think is foolish. 800 people think maybe that's doable. could it just look like this, i'll cut to the chase, we go up -- we start at 500,000 and above. we go up 2 percentage points to 37 and do a couple things on deductions that are politically possible to do to get to a trillion dollars. if the president were to come down to a trillion, could we go up -- would republicans go up to a trillion in that. >> i'll give you a straight hans, but inhan answer, but in a minute. let me get
be a delayed start to 2013 tax season. in programming its systems, the irs considered the congress would patch the amt. without another patch, the amt could hit as many as 33 million people for the 2012 tax year and it will take them some time to reset all of those forms. >>> and squawk is in session thorn with congressman peter roskam, member of the ways and means committee. thanks for joining us. >> good to be here. >> one of your quotes is that house republicans are...
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Nov 29, 2012
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so right now everybody's debating about tax rates or tax deductions. that's really a side show. >> i agree. >> the main stage here is really how much goes into each of those three buckets and what are we going to do today and what are we going to do tomorrow and how does that work out so that we get a deal by sometime early next year. >> you're talking fiscal abyss. we've got them all together. mine the fiscal cliff is january 1st. your $4 trillion deal is like a simpson-bowles thing. the fiscal abyss, i don't know if we know whether that's going to be a one- or two-step process. >> it should be a two-step process because you can never deal with $4 trillion in two weeks. >> they can spend $4 trillion in two weeks. >> they can and they have. >> and they do. >> yeah. so i think the -- what they need to do, though, right now is everybody keeps talking about the cliff as like here it comes december 31st. the reality is businesses today are acting as if this is going to happen. so this is not whether the dow goes up and down and that's the symbol of whether
so right now everybody's debating about tax rates or tax deductions. that's really a side show. >> i agree. >> the main stage here is really how much goes into each of those three buckets and what are we going to do today and what are we going to do tomorrow and how does that work out so that we get a deal by sometime early next year. >> you're talking fiscal abyss. we've got them all together. mine the fiscal cliff is january 1st. your $4 trillion deal is like a...
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Nov 30, 2012
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i'm not for tax hikes. if you buy into the president's story and over half of the country did, i think his actions are not very courageous in my opinion my opinion. i urge him and all of those big business leaders that back the president to call him right now. call treasury secretary geithner right now and say, make our dividend tax cuts retroactive because we just sinned but we really feel sorry for it. back to you. >> it is possible that senegal has views on taxes that conform with this move. maybe his views leading him to democrat support have to do with education or the supreme court or gun control or foreign policy. not everybody is a single issue voter. >> no. not everybody is and, you know, give him the benefit of the doubt. let's give him the benefit of the doubt. take a step back. the issue is whether it's warren buffet worth 50 million pointing down at us and saying, hum. maybe the threshold should be 500,000 instead of 250,000. i don't know about you. but when i see the automatic pilot, and thank
i'm not for tax hikes. if you buy into the president's story and over half of the country did, i think his actions are not very courageous in my opinion my opinion. i urge him and all of those big business leaders that back the president to call him right now. call treasury secretary geithner right now and say, make our dividend tax cuts retroactive because we just sinned but we really feel sorry for it. back to you. >> it is possible that senegal has views on taxes that conform with this...
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Dec 3, 2012
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going into next year, i think no one will argue taxes are going to go up at some rate. historically, dividend type stocks have underperformed. do you still feel good about them? >> i do. because it's different this time. i mean, it's been well communicated, well documented. everyone knows that that's an issue. in fact, we don't think it's possible the dividend taxes won't rise the amount that's in the law. right? so if you look last week, for example, utilities were the best p performing sector in the market, up 3.35% last week. i think you can get a relief rally if they do change the law. and more over all the the other things that are compelling about them, whether low payout ratios or compelling yield versus the bond market or in fact the most cynical but appropriate reason could be management teams are paying themselves more and more in restricted stock units than options and that is probably for better dividend growth. >> adam, great to have you on the show. welcome you back sometime soon i hope. >> have a great week. >> adam parker from morgan stanley. let's talk
going into next year, i think no one will argue taxes are going to go up at some rate. historically, dividend type stocks have underperformed. do you still feel good about them? >> i do. because it's different this time. i mean, it's been well communicated, well documented. everyone knows that that's an issue. in fact, we don't think it's possible the dividend taxes won't rise the amount that's in the law. right? so if you look last week, for example, utilities were the best p performing...
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no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. >>> well, move over cheetos, the new snack for the vending machine, ckavycavier, and you probably guessed it will take a little more than 75 cents to get this treat. prices range from $12, okay, possibly reasonable, to $500, a little less so. >>> well, bankruptcy judge has officially given hostess the go ahead to pay out bonuses to its senior executive. the company is liquidating almost 20,000 people losing their jobs. the executives are getting bonuses. how does that -- i'm not good at math, but how does that work? >> it doesn't quite seem fair, does it? but that's exactly what one new york court has sort of ruled on and the bonuses range from about $7,500 to $130,000 and it's only
no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. >>> well, move over cheetos, the new snack for the vending machine, ckavycavier,...
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code, tax expenditures. that is spending through the tax code. and it picks a favored and connected groups to get preferential tax treatment over others. >> like homeowners. >> like corporations. >> crony capitalism is just as bad -- >> well, it goes back to andrew jackson's veto of the -- what he talked about was people cutting their own private deals and he's absolutely right. >> and leading arthur brooks, whoever you pick, they make that point. the crony capitalism is just as -- >> it's what democracy does. until it gets so bad. people get so angry, they gain control. shareholders don't really have control of corporations, until they do. and it's the same thing in democracy. >> tell me why i'm wrong about this and i've said it a lot. if you get government to the point where it's 25% of gdp, and you know full well it's bloated and overspending, i don't think you decide how to pay for that. you don't say, okay, i'm going to get the revenue side up. i think you immediately start on the 25. and knowing that b
code, tax expenditures. that is spending through the tax code. and it picks a favored and connected groups to get preferential tax treatment over others. >> like homeowners. >> like corporations. >> crony capitalism is just as bad -- >> well, it goes back to andrew jackson's veto of the -- what he talked about was people cutting their own private deals and he's absolutely right. >> and leading arthur brooks, whoever you pick, they make that point. the crony...
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. >> and taxed. that's the point. in washington, d.c., 25% tax on the growers. 25% on distribution. 2 and the sales tax. does the price of the joint go up or down? >> that's washington state and not washington d.c. >> sorry. >> it's different in colorado. it's only 15% exise tax in colorado. the market needs to shake itself out. at this point there's a huge additional cost built into the price of marijuana based on the fact that it's sold in a criminal market. once it is licensed and regulated, the price will certainly go down to some extent. >> how confident are you -- you talk about setting up a regulated functioning market for weed as if you just snapped your fingers. how do you make sure this stays out of the hands of those who are under 21? >> well, we've seen in colorado already a fully regulated market that is serving 120,000 medical marijuana patients and no reports of any marijuana being diverted from those stores to teens and moreover while the use of marijuana among teens has gone up 11% n
. >> and taxed. that's the point. in washington, d.c., 25% tax on the growers. 25% on distribution. 2 and the sales tax. does the price of the joint go up or down? >> that's washington state and not washington d.c. >> sorry. >> it's different in colorado. it's only 15% exise tax in colorado. the market needs to shake itself out. at this point there's a huge additional cost built into the price of marijuana based on the fact that it's sold in a criminal market. once it is...
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Dec 6, 2012
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by the end of the year everything will be regulated and taxed very heavily here. 25% tax. proponents say they will raise a half billion dollars. $500 million a year from the sale of marijuana and marijuana products in washington state once this gets going. >> while many there are celebrating, colorado isn't ready to spark up just yet. voters cast votes to legalize marijuana as well but it won't officially be legal for another month. jim spelman is in denver, colorado. what's the holdup? >> reporter: the governor has to cross ts and dot is to make this official. like in washington state, there's uncertainty about what the federal government is going to do before we can really have fully implemented legalized marijuana here. take a look. on election day colorado voted to legalize marijuana and by early january the governor will make it official. but don't expect the streets of denver to look like this. smoking pot in public will remain illegal but behind closed doors the times are a changing. >> adults 21 and over can possess small amounts of marijuana and grow small amounts
by the end of the year everything will be regulated and taxed very heavily here. 25% tax. proponents say they will raise a half billion dollars. $500 million a year from the sale of marijuana and marijuana products in washington state once this gets going. >> while many there are celebrating, colorado isn't ready to spark up just yet. voters cast votes to legalize marijuana as well but it won't officially be legal for another month. jim spelman is in denver, colorado. what's the holdup?...
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Dec 4, 2012
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in a way by getting rid of tax loopholes which they feel rather than raise the tax rates will have less of a negative impact on the economy. at the end i think there will be a little bit of movement on their side possibly raising the dollar income level that we have for that and making so it's a combination of increases as well as loopholes, but, frankly, the president's policy of just trying to punish the rich is what he seems to be interested in is also counterproductive, frankly. >> i saw jason johnson shaking his head no. >> this is not true. they haven't specified what any of these taxes are. they're trying to sell people a bridge and you don't even know where the bridge is going. that's one of the reasons the white house rejected the plan but here is the other reason why the republicans are eventually just going to go along and raise taxes and deal. the most important number in this whole debate is 56. 56% of the public according to a recent poll will blame the republican party in congress if this deal does not get done. they do not need another public relations hit after being sh
in a way by getting rid of tax loopholes which they feel rather than raise the tax rates will have less of a negative impact on the economy. at the end i think there will be a little bit of movement on their side possibly raising the dollar income level that we have for that and making so it's a combination of increases as well as loopholes, but, frankly, the president's policy of just trying to punish the rich is what he seems to be interested in is also counterproductive, frankly. >> i...
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Dec 4, 2012
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of tax avoidance. but there's no question in times of austerity -- tomorrow we'll find out what taxes in the uk are going to go up -- that this sort of finagling of the finances is most definitely not on. >> i suppose you could call it creative bean counters behind all of that. you could if you wanted to be silly. britain has a bit of a big tax gap problem overall, right? >> it does. and the chancellor of the -- the finance minister has now warned that he won't meet his deficit targets for austerity will have to continue. we expect higher taxes on the rich tomorrow, cuts in public spending, and in this environment the multinationals like google, amazon, starbucks, are very firmly in the firing line. after all what better than to attack big corporate america. and they're being told, smell the coffee. i can play that game, too, michael. >> wake up and smell the coffee. always good to see you, mr. quest. always making it simple for us. richard quest in london. probably didn't pay for that coffee. >>> over
of tax avoidance. but there's no question in times of austerity -- tomorrow we'll find out what taxes in the uk are going to go up -- that this sort of finagling of the finances is most definitely not on. >> i suppose you could call it creative bean counters behind all of that. you could if you wanted to be silly. britain has a bit of a big tax gap problem overall, right? >> it does. and the chancellor of the -- the finance minister has now warned that he won't meet his deficit...
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Dec 3, 2012
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no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. [ "the odd couple" theme playing ] humans. even when we cross our "t"s and dot our "i"s, we still run into problems -- mainly other humans. at liberty mutual insurance, we understand. that's why our auto policies come with accident forgiveness if you qualify, where your rates won't go up due to your first accident, and new car replacement, where if you total your new car, we give you the money for a new one. call... to talk to an insurance expert about everything else that comes standard with our base auto policy. [ tires squeal ] and if you get into an accident and use one of our certified repair shops, your repairs are guaranteed for life. call... to switch, and you could save hund
no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. [ "the odd couple" theme playing ] humans. even when we cross our "t"s...
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Dec 3, 2012
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and tax increases. >> yeah. speaking of which, bob, at least over the weekend, it looks like the white house has moved their piece, and they are not going to move again until the republicans table something. how do you see these things going down? we've got three weeks to play with here before everybody really does leave for the holidays. are you optimistic? >> i'm optimistic by nature. and i have a feeling that when the economic future of the country is at stake or at least the near-term economic future of the country, people are going to rise above and do the right thing. and i think the republicans, frankly, are going to have to accept some tax increases. the wealthy are going to have to accept some tax increases, even if only temporary. but on the other side, there's got to be massive spending cuts and entitlement programs, because you can't have the -- a minor revenue increase without a decrease in spending. and then again, my favorite solution would be a temporary national sales tax, and a federal fuel tax
and tax increases. >> yeah. speaking of which, bob, at least over the weekend, it looks like the white house has moved their piece, and they are not going to move again until the republicans table something. how do you see these things going down? we've got three weeks to play with here before everybody really does leave for the holidays. are you optimistic? >> i'm optimistic by nature. and i have a feeling that when the economic future of the country is at stake or at least the...
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Nov 29, 2012
11/12
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we are talking about reforming the tax code, raisinging tax rates. that's the only thing i say that i absolutely will not do. 258 members of congress, republicans all, have taken the pledge. only six are waffling. we're standing strong on that point. >> do you think that's a pledge with grover norquist, with your constituents? there are others saying they have room around the pledge. >> well, that's a great question you just asked me. is that a pledge to my constituents. absolutely. in 2002 -- and i was running in a tough primary and those folks back in marietta, georgia, said, phil, are you going to take the grover norquist, americans for tax reform pledge. i said, yes, i will take it. many would have voted for my opponent. that plenl, i honor that. it's a pledge to my constituents. absolutely. >> all right. you say your constituents don't want you to raise taxes on the rich. let me show you what an abc/washington post poll shows. 60% would support raising taxes on incomes over $250,000 per year. you wouldn't do that? >> i understand that their perc
we are talking about reforming the tax code, raisinging tax rates. that's the only thing i say that i absolutely will not do. 258 members of congress, republicans all, have taken the pledge. only six are waffling. we're standing strong on that point. >> do you think that's a pledge with grover norquist, with your constituents? there are others saying they have room around the pledge. >> well, that's a great question you just asked me. is that a pledge to my constituents. absolutely....
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tax breaks, right? democrats are fighting hard to preserve the tax deduction for state and local taxes, that costs the federal budget more than $80 billion a year. why? because 7 of 8 states where taxpayers use the deductions that much are blue or democratic. new york, new jersey, pennsylvania, all blue with the highest state local -- state and local taxes taken out there and property taxes. the tax deductions on them benefit higher income taxpayers in states that consistently deliver for the democrats. i get the politics of this but democrats need to own up. they can't have their cake and eat it, too. in the end, we are all going to pay more or we are going to get less. if we're serious about the fiscal house in order. if demonstrates are serious about republicans to break with ideology and their party base, to vote for higher tax rates, democrats have to be willing to do the same and break with their base. both sides can go back to the politics after they get in right. quit scrapping. get the work don
tax breaks, right? democrats are fighting hard to preserve the tax deduction for state and local taxes, that costs the federal budget more than $80 billion a year. why? because 7 of 8 states where taxpayers use the deductions that much are blue or democratic. new york, new jersey, pennsylvania, all blue with the highest state local -- state and local taxes taken out there and property taxes. the tax deductions on them benefit higher income taxpayers in states that consistently deliver for the...
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Dec 3, 2012
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hikes, one third tax cuts. and i remember saying do you think this will work, they're raising the v.a.t. tax and i understand italian household debt isn't that high, but they were trying to tax their way out of a massive debt problem and in fact receipts went down, consumption fell to 4.25 annualized rate and the situation got much worse. today italy has zero nominal gdp grets. and they're funding at 4.5%. that is a bad business model. spain same story. so when you bnk our package and what's been offered so are far which appears like $1.6 trillion in tax hikes against $400 billion of entitlement cuts over time, that's an even worse mix than the two-thirds/one-third european structure that really has gotten a negative reaction. >> how much is because of the mix and how much of it just this is what austerity looks like? >> is the money in capping deductions or raising marginal tax rates? it's in capping deductions. but that's tough because you have to tell someone no like the housing lobby or charitable contribut
hikes, one third tax cuts. and i remember saying do you think this will work, they're raising the v.a.t. tax and i understand italian household debt isn't that high, but they were trying to tax their way out of a massive debt problem and in fact receipts went down, consumption fell to 4.25 annualized rate and the situation got much worse. today italy has zero nominal gdp grets. and they're funding at 4.5%. that is a bad business model. spain same story. so when you bnk our package and what's...
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Dec 5, 2012
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pxp is a deal maker but ready to trade because capital gains taxes are going up. could be a fiscal cliff. the gulf is hotter than it's ever been even a few years ago it was ice cold. >> big story in the journal about exploration in this country. production 15-year high. brand new chapter here. look at the bottom of your screen. citigroup is cutting 11,000 jobs. we want to get to kayla tausche with more on that. >> we have a release that just hit the wire in citigroup where those jobs are coming from and a charge that the company plans to take in the fourth quarter because of these job cuts even though it expects them to generate $900 million in cost savings next year. interestingly this is the first move toward really slimming down citi by the new ceo. he has a quote in here saying these actions are logical next steps in citi's transformation and says they're committed to strategy that continues to leverage in the global banking market. if you go through the list of where these jobs are actually coming from, institutional clients group which is investment banking
pxp is a deal maker but ready to trade because capital gains taxes are going up. could be a fiscal cliff. the gulf is hotter than it's ever been even a few years ago it was ice cold. >> big story in the journal about exploration in this country. production 15-year high. brand new chapter here. look at the bottom of your screen. citigroup is cutting 11,000 jobs. we want to get to kayla tausche with more on that. >> we have a release that just hit the wire in citigroup where those...
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Dec 5, 2012
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give 98% of us tax relief. the things that both sides agree on and then the president yesterday thinks the president is poised to take off. obviously going over the cliff is the last thing anybody wants right now. >> i agree. i hear people on both sides talk about that. it may have been a contrived cliff. i know some folks call it a curve or whatever they want to call it. the fact of the matter is a large portion of any economy is the psychological effect of it. and you can't tell me that middle class -- i'm a teacher my wife and i -- that they're thinking about what happens if that tax bill changes on january 1st and they're making decisions about their spending right now. that's reality. the one thing i agree with republicans on in the 2010 elections was that the economy needed certainty. the thing that frustrates me is it is creating more uncertainty by them not signing on to this and passing it. >> stephanie: absolutely. what i was saying last hour, representative, the thing we're not falling for is some of
give 98% of us tax relief. the things that both sides agree on and then the president yesterday thinks the president is poised to take off. obviously going over the cliff is the last thing anybody wants right now. >> i agree. i hear people on both sides talk about that. it may have been a contrived cliff. i know some folks call it a curve or whatever they want to call it. the fact of the matter is a large portion of any economy is the psychological effect of it. and you can't tell me that...
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Dec 7, 2012
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. ♪ >> up next, high taxes could be tricky for gay couples getting married. >> worki >>> we wanted to let you know about a special story we're airing on the broadcast next week. this warehouse that have shocked an entire city. kate snow reports on the we will meet the prosecutor who is fighting for justice in the case. >>> and next week, we'll get back to ending the broadcast in a proper way with our look back at the news of the week. but for us and for now, however, for everybody who worked hard to bring you this week's broadcast, thank you for being here with us. don't forget tonight's live stream on the website about the tim cook interview, the future of apple. that's 11:30, 10:30 central. good night for now. your late local news starts now. [captioning made possible by constellation energy group] captioned by the national captioning institute --www.ncicap.org-- our big story tonight --
. ♪ >> up next, high taxes could be tricky for gay couples getting married. >> worki >>> we wanted to let you know about a special story we're airing on the broadcast next week. this warehouse that have shocked an entire city. kate snow reports on the we will meet the prosecutor who is fighting for justice in the case. >>> and next week, we'll get back to ending the broadcast in a proper way with our look back at the news of the week. but for us and for now,...
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Dec 3, 2012
12/12
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he wants higher tax rates on wealthy americans. the republicans try to put some pressure on the democrats by laying out $600 billion in health savings, medicare and the like, adjust that cost of living increase for social security and other federal programs. the president's proposal puts pressure on republicans on rates. the republican proposal puts pressure on the president on entitlements and that cost of living adjustment. the question now is, do they negotiate or just posture? >> that's a good question. are you at all surprised that they're both negotiating in public with specific details of their respective plans instead of just doing this quietly behind the scenes, let their representatives go about a serious negotiation? >> there are some staff members on capitol hill who are circulating what they think will be ultimately where they have to -- as we get closer to christmas, sit down and cut out a deal. ip not surprised the republicans came forward with a public counterproposal because they thought the president was winning i
he wants higher tax rates on wealthy americans. the republicans try to put some pressure on the democrats by laying out $600 billion in health savings, medicare and the like, adjust that cost of living increase for social security and other federal programs. the president's proposal puts pressure on republicans on rates. the republican proposal puts pressure on the president on entitlements and that cost of living adjustment. the question now is, do they negotiate or just posture? >>...
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Dec 6, 2012
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>> i think it's tax relateded selling. few stocks chair s compare to performance that apple has given you. if you're a long investor, you think, the other guy knows more than me. trust me the other guy does not know more than you. it's just that fundamentals are deteriorating as the stock falls and people feel they are missing something. they're not missing anything. this is a tax related selloff and it's a tremendous buying opportunity at 7.5. >> we're seeing the pressure from the institutional side, probably pressure from the -- individuals might just simply get frightened off and now the result in selloff will lead to the stock being in stronger hands? >> i think that's exactly right. i think a lot of these investors will come back to apple after the tax related selling, whether that's in a week or two or sometime this year. >> we have a half dozen technicians focused on the selloff. historically they're only up 4, so a phenomenal november for the apple monitor, which are suppliers to apple. >> today just in today's ses
>> i think it's tax relateded selling. few stocks chair s compare to performance that apple has given you. if you're a long investor, you think, the other guy knows more than me. trust me the other guy does not know more than you. it's just that fundamentals are deteriorating as the stock falls and people feel they are missing something. they're not missing anything. this is a tax related selloff and it's a tremendous buying opportunity at 7.5. >> we're seeing the pressure from the...
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Dec 7, 2012
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cuts, bush tax cuts, forethose up to $250,000, probably immediate to extend the payroll tax cut. these are major forms of stimulus that middle income households and receive the dollars don't save it. they spend it. i think it also provides a little wind to the sail of the administration that we need to extend the unemployment insurance benefits that have -- we have been providing to families. which are another important stimulus for families here in the u.s. >> you answer made question about the work force because about a half million people left the work for according to bls and talked about why you believe that factored into it. what do you think is missing from the report, though? >> what's missing, i think of -- you know, we focus so much on the employment front and if you look at wage, i believe wages continue to stagnate. over the month. and also even over the year when you factor in inflation. so, you know, not -- families are -- you know, continuing in this really tepid, very slow, weak recovery. they are getting hit on all fronts. you know. slow job creation. people leav
cuts, bush tax cuts, forethose up to $250,000, probably immediate to extend the payroll tax cut. these are major forms of stimulus that middle income households and receive the dollars don't save it. they spend it. i think it also provides a little wind to the sail of the administration that we need to extend the unemployment insurance benefits that have -- we have been providing to families. which are another important stimulus for families here in the u.s. >> you answer made question...
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through the way that they would like to see taxes go up, even though they don't want to see taxes go up, through closing loopholes and eliminating deductions. john boehner acknowledges that revenue is going to be part of this deal, but they are standing firm on, they will not agree to at this point to raising tax rates on anyone. so either way, the major issue remains. the major issue, the major hurdle remains the tax rate issue. >> right, right. and meantime it's ticktock, right? and the house is out as of yesterday. members are headed to their home states for a nice long weekend with no deal in sight. the majority leader, eric cantor, says he's going to force congress to keep coming back and stay in session until a deal is done. seriously? >> he is serious. but, i mean, it was a pretty short workweek for the members of the house, that's for sure, as they left, not only left yesterday, they left at noon yesterday, after votes. the fact of the matter is that this has happened before. that they will be out on recess, they will be back in their home districts and the leadership will ca
through the way that they would like to see taxes go up, even though they don't want to see taxes go up, through closing loopholes and eliminating deductions. john boehner acknowledges that revenue is going to be part of this deal, but they are standing firm on, they will not agree to at this point to raising tax rates on anyone. so either way, the major issue remains. the major issue, the major hurdle remains the tax rate issue. >> right, right. and meantime it's ticktock, right? and the...
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Dec 5, 2012
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of course, the white house, the president wants to raise it on tax ritz. the republicans say no way. >> is there any concern among republicans because we know they're not all kind of lining in lock step on what to do here. this doesn't look good, the optics of it all, them leaving and going home. a lot of people look at this that and go really, you're not going to try, stick around, get more work done here? are they worried it can backfire? >> i actually asked the speaker that very question. he said, look, i'm here. i'm going to be here. i'm going to be waiting for the president to respond. certainly there is some concern, but as one republican told our deirdre washington a short while ago, look, it is what it is. it is the reality. the reality is there is a lot of waiting going on. on both sides, but particularly right now when it comes to republicans. one of the sort of subplots we've been talking about here, suzanne, you and i talk abouted it about it yesterday is the conservative backlash missed the republican party against the speaker for this counter
of course, the white house, the president wants to raise it on tax ritz. the republicans say no way. >> is there any concern among republicans because we know they're not all kind of lining in lock step on what to do here. this doesn't look good, the optics of it all, them leaving and going home. a lot of people look at this that and go really, you're not going to try, stick around, get more work done here? are they worried it can backfire? >> i actually asked the speaker that very...
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reform, spending cuts and new taxes? >> brianna keilar, thank you very much. >>> the grieving kansas city chiefs come together and pull out a win over the carolina panther, a day after police say their teammate, jovan belcher, shot and killed his 22-year-old girlfriend, kasandra perkins. a few minutes afterwards he turned the gun on himself outside the chiefs practice facility in front of his coaches and general manager. he and perkins leave behind a 3-month-old daughter. >>> major changes are come together manual psychiatrists use. over the weekend the american psychiatrist association voted to amend the diagnostic and statistical manual. for example, a child wit with asberger's syndrome. >> nasa officials will discover the curiosity's full away of analytical instruments during a news conference today in san francisco. the mars rover is searching for organic compounds, which are the building blocks of life. last week it was suggested that curiosity may have found simple organic molecules. >>> president obama recognized
reform, spending cuts and new taxes? >> brianna keilar, thank you very much. >>> the grieving kansas city chiefs come together and pull out a win over the carolina panther, a day after police say their teammate, jovan belcher, shot and killed his 22-year-old girlfriend, kasandra perkins. a few minutes afterwards he turned the gun on himself outside the chiefs practice facility in front of his coaches and general manager. he and perkins leave behind a 3-month-old daughter....
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Dec 5, 2012
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cut shouldn't have their taxes raised. my suggestion was let's take the one area we agree and take it off the table. >> but zoraida, as you saw there from the president earlier in that bloomberg interview, he is digging in, saying there can't be a deal unless upper income americans pay more. middle-class americans should get the bush era tax cut extension. is he not backing down from that at all. the president saying in that interview that he's not being stubborn. he's not being partisan but rather that it's, quote, a matter of math. >> we've been talking now for a while that americans blame republicans if a deal doesn't go through. new polling shows americans are pessimistic a deal will be reached at all. break down those numbers for us. >> the tune that we're seeing now from not only the white house but also members up on capitol hill where they once were very optimistic that a deal would get done, there's more pessimistic about a deal getting done. so this is reflected in that poll when people were asked whether or not
cut shouldn't have their taxes raised. my suggestion was let's take the one area we agree and take it off the table. >> but zoraida, as you saw there from the president earlier in that bloomberg interview, he is digging in, saying there can't be a deal unless upper income americans pay more. middle-class americans should get the bush era tax cut extension. is he not backing down from that at all. the president saying in that interview that he's not being stubborn. he's not being partisan...
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Dec 1, 2012
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also bush era tax cuts set to x expire, so the majority of americans will pay more taxes. also at stake, the payroll tax holiday and unemployment benefits expect to get cut. dana, in your most recent column, you say it doesn't seem like anyone is doing anything but photo ops and news conferences. one politician was quoted as saying, effectively, we have a month. that's loads of time. is this a sophisticated game of chicken? >> it's a rather unsophisticated game of chicken, kind of elementary. what they're doing, both sides really, is doing a lot of posturing and waiting until they get close to the deadline if not go over the deadline because they feel if they go over the deadline, they're in a position to tell their hard core supporters, look, we have really got to make this deal now or that's the end. the economy goes back into recession. it's almost as if they can't strike a deal before you get to the very end, which is understandable. the problem is when you play this game, you can make a terrible mistake, and you know, they're gambling with the whole country here right
also bush era tax cuts set to x expire, so the majority of americans will pay more taxes. also at stake, the payroll tax holiday and unemployment benefits expect to get cut. dana, in your most recent column, you say it doesn't seem like anyone is doing anything but photo ops and news conferences. one politician was quoted as saying, effectively, we have a month. that's loads of time. is this a sophisticated game of chicken? >> it's a rather unsophisticated game of chicken, kind of...
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Dec 6, 2012
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they want spending cuts, if they can't get exchange for the tax increases. they will raise the debt ceiling. >> the president saying he's not going to negotiate on that, either. >>> now, to a major headline for parents about a popular affordable baby recliner. a federal agency is suing the maker of the nap nanny, claiming it has caused the death of five children and demanding the recall of the product. jim avila has all of the details. >> reporter: this morning, the government says it's a dangerous product with a faulty design that allegedly allowed children to just fall. the consumer product safety commission says there have been 70 complaints about nap nanny, including 5 deaths. >> we believe it's a hazardous product. >> reporter: for months, the makers of the nap nanny have refused to pull its product or offer refunds. the government is taking a rare step to ask a judge to pull it off shelves. >> the reason i came up with it, my daughter would only sleep in her car seat. >> reporter: in a statement, she says she is heartbroken for the families who lost a
they want spending cuts, if they can't get exchange for the tax increases. they will raise the debt ceiling. >> the president saying he's not going to negotiate on that, either. >>> now, to a major headline for parents about a popular affordable baby recliner. a federal agency is suing the maker of the nap nanny, claiming it has caused the death of five children and demanding the recall of the product. jim avila has all of the details. >> reporter: this morning, the...
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Nov 29, 2012
11/12
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those bush era tax cuts should not extend for them. republicans believing that all americans should benefit from those tax cuts, and that now you should put en titlements on the table. of as we see, the officials from the white house going up to capitol hill today, treasury secretary timothy geithner, to try to hammer out some deals. still, both sides far apart. >> well, i want to talk about that a little bit. there was an article on politico.com this morning that said the two sides are farther along with a deal than we know. and that all of this stuff that you're hearing out in the public view is just posturing. what are you hearing, dan? >> reporter: well, you know, we certainly -- i think everyone hopes so, that they are closer to a teal. what you're hearing is some people are optimistic, including the president, saying he's optimistic this can get done, even before christmas. but then you have others stepping up saying both sides are far apart, and very pessimistic this can get done. as i stated, there's still some very strong view
those bush era tax cuts should not extend for them. republicans believing that all americans should benefit from those tax cuts, and that now you should put en titlements on the table. of as we see, the officials from the white house going up to capitol hill today, treasury secretary timothy geithner, to try to hammer out some deals. still, both sides far apart. >> well, i want to talk about that a little bit. there was an article on politico.com this morning that said the two sides are...
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Nov 29, 2012
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meanwhile president obama puts pressure on republicans to extend tax cuts for the middle class. >> it's too important to washington to screw this up. >> twin winners, a pair of winning tickets are sold in last night's record setting powerball
meanwhile president obama puts pressure on republicans to extend tax cuts for the middle class. >> it's too important to washington to screw this up. >> twin winners, a pair of winning tickets are sold in last night's record setting powerball